"Market Intelligence for High-Geared Performance"

Electric Vehicle (EV) Battery Housing Market Size, Share & Industry Analysis, By Vehicle Type (Passenger Car and Commercial Vehicle), By Material (Steel, Aluminum and Others (Carbon Fiber & Carbon Glass)), and Regional Forecast, 2024-2032

Last Updated: October 28, 2024 | Format: PDF | Report ID: FBI108616

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global electric vehicle (EV) battery housing market size was valued at USD 11.79 billion in 2023. The market is projected to grow from USD 15.15 billion in 2024 to USD 32.25 billion by 2032, exhibiting a CAGR of 9.9% during the forecast period.


The Electric Vehicle (EV) battery housing is a type of box specifically designed for the batteries, such as the lithium-ion battery of an electric vehicle. It is also called a battery case and battery enclosure. The Electric Vehicle battery housing comprises a metal enclosure (top cover & bottom cover) or box that protects the battery cell from damage and moisture, dust, and debris. The housing also delivers structural support to the battery pack and also for additional systems, such as thermal management systems, cooling systems, or battery management systems. The growing adoption of advanced EV battery pack (housing) technologies for enhanced performance is anticipated to propel the Electric Vehicle battery housing market growth.


The COVID-19 pandemic positively affected the global electric vehicle (EV) battery housing market. The pandemic disrupted the supply chain, leading to the shortage of critical components and materials used in EV battery production. For instance, lithium-ion batteries are a core component of electric vehicles and disruptions in the supply of lithium, cobalt, and other essential materials hindered battery production, and consequently electric vehicle (EV) battery housing production.


Electric Vehicle (EV) Battery Housing Market Trends


Rising Adoption of Lightweight Materials and Modular Design is an Ongoing Trend


The rising adoption of lightweight materials and modular design is an ongoing trend in the market. The trend is driven by the need to enhance design, safety systems, and overall vehicle efficiency. Manufacturers or OEMs are increasingly focused on lightweight materials for Electric Vehicle battery housing to enhance vehicle efficiency and range. Materials, such as aluminum and high-strength composites are gaining popularity due to their properties.


The rising market growth is attributed to the rising demand for lightweight materials, modular design, and improved safety features in electric vehicles. Modular Electric Vehicle battery housing designs are on the rise, allowing for easier scalability and customization. This trend is driven by the need to accommodate different battery sizes and configurations for various EV models.



  • For instance, in 2022, SGL Carbon introduced carbon fiber and fiber composite materials for automotive production and industrial applications. The company presented carbon fiber housing for lightweight/weightless construction, impregnated materials based on glass and carbon fiber, and composite battery cases for electric vehicles. The company provided a high-voltage battery housing concept, representing a weight decrease of up to 50 % compared with the corresponding steel component.


Request a Free sample to learn more about this report.


Electric Vehicle (EV) Battery Housing Market Growth Factors


Increasing EV Adoption and Battery Technology Advancement to Propel Market Growth


The adoption of electric vehicles increases yearly due to environmental concerns and government incentives. The growing environmental awareness is one of the primary drivers for EVs. Governments are delivering attractive incentives and policies to promote the sales of EVs. Some of these incentives include reduced selling prices, zero or low registration fees, and free charging infrastructure of EVs at multiple charging stations. The growing adoption of electric vehicles drives market growth. These electric vehicles depend on large battery packs, and each of these packs requires a protective housing.


The developments in battery technology are increasing the energy density and range of electric vehicles. The larger and more efficient battery packs further drive the need for specialized EV battery housing. For instance, in June 2023, Toyota announced that the company would introduce high-performance, solid-state batteries and other technologies to improve the driving range and cut costs of future Electric Vehicles (EVs). This development is estimated to drive market growth during the forecast period.


RESTRAINING FACTORS


High Material Cost and Safety Regulations May Hamper Market Growth


The restraining factor in the market could be the high cost of materials. The cost of material used in Electric Vehicle battery housing directly contributes to the overall manufacturing cost of an electric vehicle. The expensive material can significantly raise the price of electric vehicles, making them less competitive with Internal Combustion Engine (ICE) vehicles. The high cost of developing and manufacturing specialized battery housing may hinder demand for Electric Vehicle battery housing. Strict safety regulations govern the design and manufacturing of battery housing to prevent thermal runways and fires. This regulation can be challenging and costly for manufacturers.


Electric Vehicle (EV) Battery Housing Market Segmentation Analysis


By Vehicle Type Analysis


Passenger Car Segment Propels as BYD’s Strategic Move Spurs Growth


Based on vehicle type, the market is segmented into passenger car and commercial vehicle. The passenger car segment holds the highest Electric Vehicle (EV) battery housing market share globally and is expected to grow during the forecast period. The growth is attributed to rising electric passenger car production by OEMs/manufacturers. For instance, in September 2022, BYD Co. Ltd. signed an agreement with WHA Corp. (Industrial Estate developer) to build an electric vehicle production plant in Southeast Asia. This development drives segmental growth in the market. Additionally, government regulations and incentives often focus on promoting the adoption of electric passenger vehicles, driving market growth.


The commercial vehicle segment holds the second largest market share. The segment’s growth is attributed to the increasing research and development, innovation, and vehicle launches. For instance, in January 2024, VinFast Auto introduced its new electric vehicle concept - the VF Wild. The concept car was VinFast's first attempt at a pickup truck. The VF Wild concept highlights VinFast's innovative efforts to create a pickup truck with exceptional performance, with an overall length of 209 inches (5324mm) and a width of 79 inches (1997mm). VinFast and Australian design studio GoMotiv jointly developed the VF Wild concept.


By Material Analysis


To know how our report can help streamline your business, Speak to Analyst


Aluminum’s Weight Advantage Increases Demand and Propels Market Leadership


Based on material, the market is projected into steel, aluminum, and others. The aluminum segment holds the maximum market share globally. The material is lighter than steel, which helps decrease the overall weight of the electric vehicle and delivers maximum vehicle range and energy efficiency. Such properties of the material drive segmental growth.


The steel segment holds the second-largest market share. The segmental growth is attributed to its strength, recyclability, and cost efficiency. The steel is highly recyclable, providing eco-friendly in line with the sustainability goals of the EV industry.


REGIONAL INSIGHTS


The market is analyzed across North America, Europe, Asia Pacific, and the rest of the world.


Asia Pacific Electric Vehicle (EV) Battery Housing Market size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


Asia Pacific stood at USD 6.05 billion in 2023. The region dominated the market in 2023 and is expected to continue its dominance throughout the forecast period, with the fastest CAGR. The APAC regional growth is attributed to the existence of a strong automotive sector in developing economies, including China, India, Japan, and others. Additionally, increasing demand for electric vehicles in India, China, Japan, and South Korea further propel market growth.


Europe holds the second-largest market share as the region is an early adopter of electric vehicles. Manufacturers are heavily investing in electric vehicle production, which has driven innovation and adoption of EV component manufacturing, such as EV battery pack & housing. European companies have actively researched and developed advanced battery technology, Electric Vehicle (EV) housing material, safety, and management safety. Such developments fuel the Electric Vehicle battery housing demand.


North America’s increasing demand for electric light commercial transportation fuels the market growth. The rising consumer demand for electric vehicles due to environmental concerns, government incentives, and advanced technology are projected to boost the adoption of electric vehicles and drive market growth.


List of Key Companies in Electric Vehicle (EV) Battery Housing Market


Companies Focus on a Wide Range of Product Offerings to Gain Competitive Edge


Key market players include SGL Carbon, ThyssenKrupp AG, and Novelis Inc. Top manufacturers focus on providing technologically advanced Electric Vehicle battery housing for various vehicles globally.


ThyssenKrupp AG is one of the leading battery housing manufacturers. The company focuses on research and development activities to develop new products with improved capabilities. They provide a selectrify steel battery housing which is newly developed. It comprises an enclosure with a connection profile, cover, upper and lower support arm, frame, and underride guard.


List of Key Companies Profiled:



  • SGL Carbon (Germany)

  • Nemak, S.A.B. de C.V. (Mexico)

  • Novelis Inc. (U.S.)

  • Gestamp Automocion, S.A. (Spain)

  • Constellium SE (France)

  • Hanwha Solutions Advanced Materials (South Korea)

  • UACJ Corporation (Japan)

  • GF Linamar LLC (U.S.)

  • ThyssenKrupp AG (Germany)

  • Minth Group (China)

  • Magna International Inc. (Canada)

  • TRB Lightweight (U.K.)

  • Hitachi Metals, Ltd. (Japan)

  • Norsk Hydro ASA (Norway)

  • Kautex Textron GmbH & Co. KG (Germany)

  • Saudi Basic Industries Corporation (SABIC) (Saudi Arabia)

  • Teijin Limited (Japan)

  • LANXESS (Germany)

  • Evonik Industries AG (Germany)

  • Covestro AG (Germany)


KEY INDUSTRY DEVELOPMENTS:



  • July 2023 - Magna announced that the company would invest USD 790 million to build the first two supplier facilities at Ford’s BlueOval City supplier park in Stanton, Tennessee, and a stamping and assembly facility in Lawrenceburg, Tennessee. Magna will supply Ford’s BlueOval City with battery enclosures, truck frames, and seats for the automaker’s second-generation electric truck. Magna’s two BlueOval City supplier park facilities contain a new 800,000-square-foot frame and battery enclosures and a 140,000-square-foot seating facility.

  • February 2023 - Magna signed a contract with General Motors (GM) to supply battery enclosures for the all-new 2024 Chevrolet Silverado EV, which will be assembled at GM’s Factory ZERO. Magna will produce the enclosures beginning later in 2023 at its Magna Electric Vehicle Structures facility in St. Clair, Michigan, where it already produces battery enclosures for the GMC HUMMER EV. The company is adding a 740,000-square-foot expansion to the existing 345,000-square-foot Magna Electric Vehicle Structures facility in St. Clair, which opened in 2021.

  • January 2023 - Gestamp Automocion S.A. (Gestamp) announced its fourth hot stamping line in India and presented for the second time its range of products and innovations for new mobility at the Indian Auto Expo 2023. A new hot stamping line is planned to be opened by the end of 2023, in addition to the existing ones in Pune and Chennai. Gestamp unveiled its extreme size parts, battery boxes, cell-to-pack concepts, joining technologies, and chassis innovative lightweight solutions or active frunks at the event.

  • March 2022 - Gestamp Automocion S.A. announced that the company would build the NEV (New Energy Vehicle) Parts East China Base in Qiandeng Town, Kunshan City, Jiangsu Province. Gestamp Automotive Kunshan Co., Ltd., a subsidiary of Gestamp, signed the Gestamp NEV Parts East China Base Project. This project mainly supplies battery cases and door parts to EV makers, marking Gestamp’s first project with these components. 

  • January 2024, E-Works Mobility signed a technology partnership with SGL Carbon to supply battery cases made of glass fibre-reinforced plastic. The e-car manufacturer is replacing its currently used aluminum battery boxes with boxes made of glass fibre-reinforced plastic from SGL Carbon.


REPORT COVERAGE


The market research report provides a detailed analysis focusing on key aspects such as leading market players, competitive landscape, and vehicle type. Besides, the report includes insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the market's growth in recent years.


An Infographic Representation of Electric Vehicle (EV) Battery Housing Market

To get information on various segments, share your queries with us



REPORT SCOPE & SEGMENTATION
















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 9.9% from 2024 to 2032



Unit



Value (USD Billion)



Segmentation


 



By Vehicle Type



  • Passenger Car

  • Commercial Vehicle



By Material



  • Steel

  • Aluminium

  • Others (Carbon Fibre & Carbon Glass)



By Region



  • North America (By Vehicle Type and Material)


    • U.S.  (By Vehicle Type)

    • Canada (By Vehicle Type)

    • Mexico (By Vehicle Type)


  • Europe (By Vehicle Type and Material)


    • U.K. (By Vehicle Type)

    • Germany (By Vehicle Type)

    • France (By Vehicle Type)

    • Rest of Europe (By Vehicle Type)


  • Asia Pacific (By Vehicle Type and Material)


    • China (By Vehicle Type)

    • India (By Vehicle Type)

    • Japan (By Vehicle Type)

    • Rest of Asia Pacific (By Vehicle Type)


  • Rest of the World (By Vehicle Type and Material)






Frequently Asked Questions

As per a study by Fortune Business Insights, the market size was USD 11.79 billion in 2023.

The market is projected to grow at a CAGR of 9.9% over the forecast period (2024-2032).

The passenger cars segment is expected to lead the market due to the adoption of passenger vehicles globally.

The market size in Asia Pacific stood at USD 6.05 billion in 2023.

SGL Carbon, ThyssenKrupp AG, and Novelis Inc. are some of the top key players in the market.

Asia Pacific held the largest share of the market in 2023.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts
Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 150
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X